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Dow Surges Over 200 Points as Tech Leads While Conagra Stumbles on Mixed Earnings

MarketDash Editorial Team
9 hours ago
U.S. stocks climbed Friday morning with technology shares powering the rally. The Dow jumped nearly 0.5% while the Nasdaq led with a 1% gain, though Conagra shares tumbled despite beating earnings expectations on weaker-than-expected revenue.

U.S. markets kicked off Friday with solid gains across the board, led by technology stocks that helped push major indices higher. The Dow Jones climbed 0.49% to 48,188.36, while the Nasdaq outpaced its peers with a 1.03% jump to 23,243.38. The S&P 500 split the difference, rising 0.73% to 6,824.15.

Sector Spotlight: Tech Wins, Real Estate Loses

Information technology shares were the clear winners on Friday, surging 1.6% to lead all sectors. It was a clean sweep for bulls, with only one sector finishing in the red. Real estate stocks edged down 0.1%, making it the sole laggard in an otherwise positive session.

Conagra's Earnings Puzzle

Shares of Conagra Brands Inc. (CAG) dropped more than 4% Friday morning despite posting a quarterly earnings beat. The company reported earnings of 45 cents per share, edging out the analyst consensus estimate of 44 cents. But here's the thing: revenue came in at $2.979 billion, missing expectations of $2.986 billion. The market apparently cared more about the top-line miss than the bottom-line beat, sending shares lower.

Notable Movers

Several stocks made dramatic moves Friday. Autozi Internet Technology (Global) Ltd (AZI) skyrocketed 85% to $2.81 after announcing a strategic investor confirmed a $90 million initial equity investment. Julong Holding Ltd (JLHL) surged 43% to $4.37, while ProPhase Labs Inc (PRPH) jumped 44% to $0.15 following news that the company signed a non-binding letter of intent for a proposed reverse merger with Advanced Biological Laboratories.

On the downside, Geovax Labs Inc (GOVX) plunged 47% to $0.13. Nisun International Enterprise Development Group Co Ltd (NISN) fell 44% to $1.86, while Mangoceuticals Inc (MGRX) dropped 39% to $0.80 after announcing a Solana-focused digital asset treasury strategy worth up to $100 million.

Commodities and Global Markets

In commodity trading, oil climbed 1% to $56.47 per barrel, while precious metals pulled back. Gold dipped 0.2% to $4,365.60, and silver fell 1.9% to $65.640. Copper bucked the metals trend, rising 0.1% to $5.4360.

European markets closed with modest gains across the board. The eurozone's STOXX 600 added 0.1%, while Spain's IBEX 35 rose 0.2%. London's FTSE 100, Germany's DAX 40, and France's CAC 40 each gained 0.2%, 0.2%, and 0.1%, respectively.

Asian markets finished Friday's session in positive territory. Japan's Nikkei 225 climbed 1.03%, Hong Kong's Hang Seng rose 0.75%, China's Shanghai Composite gained 0.36%, and India's BSE Sensex advanced 0.53%.

Economic Data

On the economic front, U.S. existing home sales increased 0.5% from the previous month, reaching an annualized rate of 4.13 million for November. The modest uptick suggests some resilience in the housing market despite elevated interest rates.

Back to News

Dow Surges Over 200 Points as Tech Leads While Conagra Stumbles on Mixed Earnings

MarketDash Editorial Team
9 hours ago
U.S. stocks climbed Friday morning with technology shares powering the rally. The Dow jumped nearly 0.5% while the Nasdaq led with a 1% gain, though Conagra shares tumbled despite beating earnings expectations on weaker-than-expected revenue.

U.S. markets kicked off Friday with solid gains across the board, led by technology stocks that helped push major indices higher. The Dow Jones climbed 0.49% to 48,188.36, while the Nasdaq outpaced its peers with a 1.03% jump to 23,243.38. The S&P 500 split the difference, rising 0.73% to 6,824.15.

Sector Spotlight: Tech Wins, Real Estate Loses

Information technology shares were the clear winners on Friday, surging 1.6% to lead all sectors. It was a clean sweep for bulls, with only one sector finishing in the red. Real estate stocks edged down 0.1%, making it the sole laggard in an otherwise positive session.

Conagra's Earnings Puzzle

Shares of Conagra Brands Inc. (CAG) dropped more than 4% Friday morning despite posting a quarterly earnings beat. The company reported earnings of 45 cents per share, edging out the analyst consensus estimate of 44 cents. But here's the thing: revenue came in at $2.979 billion, missing expectations of $2.986 billion. The market apparently cared more about the top-line miss than the bottom-line beat, sending shares lower.

Notable Movers

Several stocks made dramatic moves Friday. Autozi Internet Technology (Global) Ltd (AZI) skyrocketed 85% to $2.81 after announcing a strategic investor confirmed a $90 million initial equity investment. Julong Holding Ltd (JLHL) surged 43% to $4.37, while ProPhase Labs Inc (PRPH) jumped 44% to $0.15 following news that the company signed a non-binding letter of intent for a proposed reverse merger with Advanced Biological Laboratories.

On the downside, Geovax Labs Inc (GOVX) plunged 47% to $0.13. Nisun International Enterprise Development Group Co Ltd (NISN) fell 44% to $1.86, while Mangoceuticals Inc (MGRX) dropped 39% to $0.80 after announcing a Solana-focused digital asset treasury strategy worth up to $100 million.

Commodities and Global Markets

In commodity trading, oil climbed 1% to $56.47 per barrel, while precious metals pulled back. Gold dipped 0.2% to $4,365.60, and silver fell 1.9% to $65.640. Copper bucked the metals trend, rising 0.1% to $5.4360.

European markets closed with modest gains across the board. The eurozone's STOXX 600 added 0.1%, while Spain's IBEX 35 rose 0.2%. London's FTSE 100, Germany's DAX 40, and France's CAC 40 each gained 0.2%, 0.2%, and 0.1%, respectively.

Asian markets finished Friday's session in positive territory. Japan's Nikkei 225 climbed 1.03%, Hong Kong's Hang Seng rose 0.75%, China's Shanghai Composite gained 0.36%, and India's BSE Sensex advanced 0.53%.

Economic Data

On the economic front, U.S. existing home sales increased 0.5% from the previous month, reaching an annualized rate of 4.13 million for November. The modest uptick suggests some resilience in the housing market despite elevated interest rates.